Professor Clarke revisits the Irish Retail banks response to the Pandemic. Following the first publication in 2020,  she ‘examines what the banks did next and in particular, whether they continue along an upward cultural trajectory’. Professor Clarke also examines the role played by the Irish Banking Culture Board (IBCB) in influencing culture in the banking sector and ensuring that the Irish banks continue to meet their responsibilities to act in a fair, ethical, accountable, and humane manner. In her conclusions she notes that ‘despite the difficult macroeconomic environment ….. the banks appear to have maintained their commitment to their values and continued to ‘walk the walk’ in managed distressed debt, safeguarding the supply of credit, and dealing with customers on a day-to-day basis.’ However, as IBCB research suggests this has not fully resonated with the public and Prof. Clarke recognises the need for greater individual accountability in the sector – a need the Central Bank (Individual Accountability Framework) Bill 2021 (the Heads of which were published yesterday) seeks to address. 

Pandemic Crisis and Financial Stability Full Book Here